Satyam board meets to assess bidders

March 20th, 2009 - 1:22 pm ICT by ANI  

Hyderabad, Mar. 20 (ANI): The Satyam board met on Friday to assess the proposals of the bidders for acquiring up to 51% stake in the embattled IT company, and discuss several other issues. The Government-appointed company board has received several expressions of interest, including those from engineering major Larsen & Toubro, B K Modi-led Spice Group, software firm Tech Mahindra and iGate, a company official said after the meeting. The winning bidder can acquire up to 31% stake in the company. On successful completion of the process, the partner can purchase additional 20% through an open offer. Earlier, IT firm Satyam Computers had said in a filing to the Bombay Stock Exchange that it has allotted 10,511 equity shares under its stock option plans. (ANI)

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